Energy Charter and EaEU single oil and gas market principles are similar

The Energy Charter principles and the principles of the single oil and gas market of the Eurasian Economic Union (EaEU) are similar, the Secretary General of the Energy Charter Urban Rusnak said on June 10.

"The Energy Charter principles and the principles of the single oil and gas market of the Eurasian Economic Union are very similar," he said at a press conference in Astana on June 10. The equal and non-discriminatory access to energy transportation is observed in both of them. It is important for them not to create confrontation among the countries of the European Union and the Eurasian Economic Union."

Secretary General of the Energy Charter expressed the hope that after Russia and Belarus ratify an agreement on cooperation with the Energy Charter, this will contribute to better cooperation among the EU countries and the EaEU member-states in the context of integration processes.

He was also supported by Kazakh Oil and Gas Minister Uzakbai Karabalin.

"There is no fundamental difference between the rules of the Energy Charter and the EaEU," Karabalin added. "Consequently, the differences are not expected. Though Russia and Belarus are not members of the Energy Charter today, as opposed to Kazakhstan, we hope that our partners in the EaEU will soon enter this association."

Energy Charter Conference is the supreme governing body of the Energy Charter - an international organization that sets legally binding rules in the international energy sector and brings together 52 Eurasian countries.

Kazakhstan joined the Energy Charter Treaty in 1995.

The Energy Charter Treaty of 1991 which is sometimes referred to as the European Energy Charter is a political declaration designed to promote energy cooperation between East and West.